It is being called The biggest-ever employment program that the Punjab province has ever rolled out to help its skilled and educated youth to develop an old fashioned business or start a new one.
Usman Buzdar, the Chief Minister of Punjab, launched the most significant opportunity for Punjab’s youth, the Punjab Rozgar Scheme 2020.
Loans amounting up to PKR 10 million will be spent to increase the employment rate in the province.
Individuals that are between the ages of 20 to 50 may apply for these loans by simply signing up through their National ID cards on their given website.
The program’s application fee is PKR 2000 (which is non-refundable) and can be once you have submitted the online application.
This Scheme will give out PKR 30 billion loans as funded credit facilities to the startups falling in micro, small, and medium (MSMEs) categories. In association with commercial Banks, the Punjab Rozgar scheme will also facilitate the existing businesses. The loans will be ranging from PKR 100,000 to PKR 10 million.
Eligible Candidates:
- University or college graduates that have entrepreneurial skills
- Diploma or certificate holder from most TVET having their technical/vocational training.
- Skilled workers and Artisans
- Already established businesses However government will give preference to the existing businesses due to the current COVID-19 pandemic situation
Criteria for being Eligible
The government has said that it is looking for the following people with these characteristics to give out loans to under its Punjab Rozgar Scheme:
- Age: must be between 20 to 50 years
- Gender: all genders can apply, i.e. Male / Female / Transgender
- Resident: all the citizens of Pakistan but only the residents the Punjab province will
- Eligibility: eligibility will be verified through the applicant’s CNIC
- Business Location: The business should be with in Punjab
- Business Type: Partnership, sole proprietor, or any business that is fulfilling their other eligibility criteria
- For new businesses and startups
- Having a workable and solid business plan
For already existing businesses
- Having an achievable business plan focusing on to sustaining the impact of COVID-19
- The applicants must have valid CNIC
- Those who want to apply for the Punjab Small Industries Corporation (PSIC) / should meet any other criteria that will be set by Government.
- For further Terms and Conditions about the program,you may click the following link: rozgar.psic.punjab.gov.pk/Terms & Conditions
